Seagate Reports Fiscal Third Quarter 2011 Financial Results
Posted: Tue Apr 19, 2011 7:43 am
Seagate Technology plc Reports Fiscal Third Quarter 2011 Financial Results
SCOTTS VALLEY, Calif.--(BUSINESS WIRE)-- Seagate Technology plc (NASDAQ:STX) today reported financial results for the quarter ended April 1, 2011. The company shipped 49 million disk drives and reported revenue of $2.7 billion, gross margin of 19.1%, net income of $93 million and diluted earnings per share of $0.21. On a non-GAAP basis, which excludes the net impact of loss on redemption of debt, purchased intangibles amortization, restructuring and tax adjustments related to prior fiscal years, Seagate reported net income of $113 million and diluted earnings per share of $0.25 for the quarter ended April 1, 2011.
For the nine months ended April 1, 2011, the company reported revenue of $8.1 billion, gross margin of 19.7%, net income of $392 million and diluted earnings per share of $0.83. On a non-GAAP basis, which excludes the net impact of loss on redemption of debt, purchased intangibles amortization, restructuring and tax adjustments related to prior fiscal years, Seagate reported net income of $452 million and diluted earnings per share of $0.95.
For reconciliation of non-GAAP to GAAP results, see accompanying financial tables.
Investor Communications
Seagate will hold a conference call to review the recently announced strategic alignment with Samsung as well as Seagate’s third fiscal quarter results today at 5:30 a.m. Pacific Time. This call will replace the call formerly scheduled for 3:45 p.m. today. The conference call will consist of comments from Steve Luczo, CEO, and Pat O’Malley, CFO, followed by a question and answer session with the executive management team. During today’s conference call, the company will provide an outlook for its fourth fiscal quarter of 2011, including key underlying assumptions.
Seagate has issued a Supplemental Commentary document. The Supplemental Commentary will not be read during today’s call, but rather it is available in the investor relations section of seagate.com.
Conference Call
The conference call can be accessed online at seagate.com or by phone as follows:
USA: (800) 299-9630
International: (617) 786-2904
Participant Passcode: 22585275
Replay
A replay will be available beginning today at 8:00 a.m. Pacific Time. The replay can be accessed from seagate.com.
About Seagate
Seagate is the world leader in hard disk drives and storage solutions. Learn more at seagate.com.